Diebold Helps Bank of Baroda Serve India's Underbanked With
Versatile ATMs extend banking services to previously impractical areas
NORTH CANTON, Ohio, Dec. 10, 2013
NORTH CANTON, Ohio, Dec. 10, 2013 /PRNewswire/ --Diebold, Incorporated (NYSE:
DBD) is helping Bank of Baroda (BoB) extend services to more of India's
underbanked population with automated teller machines (ATMs) specially
designed for the Indian market. Diebold is implementing 2,100 Diebold 429
ATMs, the world's first intelligent-powered terminals, which automatically
switch between three possible power sources (solar panel, alternating current
(AC) grid and internal battery). The ATMs feature an integrated battery backup
system and are designed to operate in environments with inconsistent power
availability. Diebold is also managing the performance and optimizes the end
user availability of BoB's entire multivendor fleet of more than 4,000
terminals, providing total implementation services, managed services and
Mumbai-based BoB operates more than 4,000 branches throughout India. The bank
is deploying at least one ATM at each branch, fulfilling a Ministry of Finance
directive to expand self-service banking options for the approximately 40
percent of India's population that is underbanked.
"Expanding the capabilities and breadth of our ATM fleet will improve access
to banking services in both urban and rural areas," said PD Singh, General
Manager, Transaction Banking, BoB. "Diebold's ATMs and services are helping us
deliver convenient, reliable self-service banking experiences to more
Built with an intelligent power management system, the Diebold 429 ATM
alternates between available power sources, maximizing terminal uptime and
reducing energy consumption by about 40 percent compared to older ATMs
deployed in India. Depending on daylight conditions, either solar panels or
the AC grid power the ATM and charge its four-hour backup battery, which
automatically activates when power is interrupted.
"The Diebold 429 ATM is a unique solution for delivering banking services in
regions with unreliable electric service," said Karthik Ganapathi, vice
president and managing director, Diebold South Asia. "We're enabling Bank of
Baroda to deploy ATMs across its footprint, including locations – and
customers – it could not previously reach."
The ATMs' security features – including Europay, MasterCard and Visa (EMV)
card readers, biometric technology and optional dual security cameras – help
to mitigate card fraud and data security threats, while complying with the
latest National Payments Corporation of India (NPCI) regulatory requirements.
About Bank of Baroda
Bank of Baroda is an Indian state-owned banking and financial services
company. It operates more than 4,000 branches and offers a global link with 97
branches, offices and subsidiaries located in 26 countries across the world.
For more information, visit www.bankofbaroda.com.
Diebold, Incorporated (NYSE: DBD) is a global leader in providing innovative
self-service technology, security systems and related services. Diebold has
approximately 16,000 employees worldwide and is headquartered near Canton,
Ohio, USA. Visit Diebold at www.diebold.com or on Twitter:
SOURCE Diebold, Incorporated
Contact: Media Relations, Kelly Piero, +1-330-490-3741,
email@example.com or Investor Relations, Jamie Finefrock,
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